Myanmar Company To Sell Shares To Public Soon

One of the two Myanmar companies which formed a joint venture with two Japanese conglomerates to develop the Thilawa special economic zone (SEZ) will start selling its shares to the public soon, according to an official media report.
No dates were specified for the move in the report.
Two Myanmar companies and two Japanese companies established a joint venture entity, Myanmar-Japan Thilawa Development Co Ltd, in Tokyo on October 29 to carry out the SEZ project.
The two Myanmar companies are the government’s Thilawa SEZ Management Committee and the Myanmar Thilawa SEZ Holdings Public Co Ltd, while the two Japanese firms are MMS Thilawa Development Co Ltd and Japan International Cooperation Agency (JICA).
Myanmar and Japan will hold 51 and 49 percent of the shares of the project respectively. The JV company will start implementing the first phase of Thilawa SEZ in mid-2015. The project includes factories, high-tech firms, textile, labour intensive and manufacturing industry. The 2,000-hectare project lies between Thanlyin and Kyauktan townships in Yangon region.
The Japan International Cooperation Agency (JICA) agreed to provide a loan of 51 billion yens under the Japanese government’s Official Development Assistance (ODA) to Myanmar in June – 20 billion yen of which is for developing the infrastructure in Thilawa SEZ and the rest is for upgrading power grids and power stations in Yangon.